Location: Seattle-Bellevue, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,100 |
| 4 Bedrooms | $3,690 |
| 5 Bedrooms | $4,280 |
| 6 Bedrooms | $4,794 |
| 7 Bedrooms | $5,178 |
| 8 Bedrooms | $5,437 |
The ZIP code 98082 in King County, Washington, which includes parts of Seattle and Bellevue, stands out due to limited available data regarding its resident count, rental percentages, median income, and median home values. Despite these gaps, the analysis of Section 8 voucher economics provides insight into the rental market dynamics.
The Fair Market Rent (FMR) for ZIP 98082 as of the fiscal year 2024 is set at $2420. This figure is critical for landlords and small-portfolio investors considering participation in the Section 8 program. The FMR represents the maximum amount that the government will pay for rental housing under the Section 8 program, ensuring that it covers a reasonable rent based on the local market conditions.
Although specific market rent data is not available, the FMR serves as a benchmark for understanding the rental landscape in this area. Landlords should use this figure to determine if their properties can be rented profitably while participating in the Section 8 program. It's important to note that the actual market rents could vary, but the FMR provides a solid reference point for negotiations and setting rental prices.
The data signature for ZIP 98082 reads as "stable," indicating that there are no significant changes or trends that would suggest a rapidly evolving market. However, the lack of detailed demographic data means that landlords and investors must rely on broader regional trends and the FMR to make informed decisions about their investments.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.